#Bitcoin Futures Speculation Cools Down#

Signs of cooling speculation in the Bitcoin futures market are becoming increasingly apparent. According to Glassnode data, Bitcoin futures open interest (OI) is showing a decline in speculative momentum. The medium-term trendline (30-day SMA) has peaked and is now slightly declining, while the short-term trendline (7-day SMA) has broken below it. This indicates that traders are closing out positions due to market uncertainty. This trend suggests that traders are cautious about the market outlook and are reducing their risk exposure. This could be due to the recent heightened market volatility and uncertainty in the macroeconomic environment. Although Bitcoin prices have recently rebounded, there are still many uncertainties in the market, such as the Federal Reserve's monetary policy, changes in the regulatory environment, and the risk of a global recession. Therefore, traders may be taking a wait-and-see approach, waiting for the market to become clearer.